Citi launches Citi Digital Bill to speed up monetization of receivables

CDB enables parties to sign, accept, endorse, and finance a digital bill.

Citi has launched Citi Digital Bill (CDB), a digital bill discounting solution that promises to accelerate the monetization of receivables from weeks to under an hour.

CDB enables parties to a digital bill— seller, buyer & Citi— to sign, accept, endorse, and finance the digital bill in CitiDirect. 

It removes challenges such as fragmented manual processes, operational risks of collecting and safekeeping of paper documents, as well as delays in access to working capital, according to Citi.

For sellers, CDB reduces the time for monetizing receivables from a week to less than an hour.

For buyers, CDB enables them to gain visibility into the status of invoice approvals and access to digital bills at any time, leading to better tracking and management of transactions.

The new trade financing solution is an alternative to traditional paper-based Bills of Exchange (BoE). It offers an end-to-end digital platform that streamlines and digitises the flows within Citi’s proprietary receivables finance platform CitiDirect.